Pandora Plans To Raise $100 Million In IPO

Pandora, an online music service, plans to raise $100 million in its IPO. Pandora is an online service with similarities to social media services such as Facebook and Twitter. The company is not currently profitable. If filed, Pandora's IPO will be the first time an online music company has gone public since Napster's 2002 bankruptcy, according to Bloomberg. Pandora announced its intent to take the company public last week.